1/05/2011

3 Credit Card Mistakes to Avoid during the Holidays: "Many consumers tend to make many credit card mistakes over the holiday season. Credit cards have contributed to financial uncertainty. If you repeatedly make the same mistakes with credit cards, you could be in a world of trouble. Around the holidays, people tend to make even more mistakes with credit cards than normal. Here are a few of the more important mistakes to avoid during the holidays.

1. Overextend

The biggest mistake that many people make around the holidays is overextending themselves with credit cards. They are under the impression that they have to buy the biggest and the best presents for everyone on their list, regardless of what it does to them financially.

The truth is that most of your friends and family members would not want the presents that you are getting them if they knew how bad it was going to hurt you financially. Getting gifts for your friends and family is important, but it is not so important that you should charge things that you cannot afford.

Around the holidays, cash seems to be low for everyone. We go to holiday parties, exchange gifts, and may even have travel expenses to see family. With all of this cash going out, many people just put their expenses on their credit card and worry about it later. This is the biggest mistake that most people make with their credit cards around the holidays."